9th Dec 2021 11:08
(Alliance News) - Dr Martens PLC on Thursday declared its first interim dividend in response to a rise in profit on sustained high shoe sales.
The Wollaston, Northamptonshire-based company reported a pretax profit of GBP61.3 million in the six months to September 30, a 46% increase from GBP41.9 million a year before.
Revenue of the footwear and clothing brand grew 16% to GBP369.9 million, from GBP318.2 million.
The principal driver of growth was volume sales, according to the company, with 6.3 million pairs sold, up 13% from 5.6 million a year before.
Revenue also benefited from increased footfall towards pre-pandemic levels and as a result direct to customer channels grew revenue by 35%, it said.
Dr Martens paid an interim dividend of 1.22 pence per share.
Although e-commerce trends remained positive in the first half, the company noted shipping delays and uncertainty around the timing of shipments for its US wholesale business. These are expected to continue into the next financial year, Dr Martens said.
Nonetheless, the company said it remained confident about meeting market expectations for the current year.
Shares were down 4.8% at 381.60 pence each on Thursday morning in London.
By Abby Amoakuh; [email protected]
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